DELRAY BEACH, FL -December 3, 2020 – Redfearn Capital LLC
(www.redfearncapital.com) announced today the $3.1 million acquisition of Car Care Center, a 8,000 square foot care repair industrial building located in Lake Worth, FL. The property has two tenants, Jiffy Lube and Monro Auto Service & Tire Center (NASDAQ: MNRO). This is Redfearn Capital’s fifth acquisition in 2020.
Alex Redfearn, Principal and Founder of Redfearn Capital remarked, “The acquisition of 4601 Hypoluxo Road is our fifth acquisition of 2020, and our third industrial building acquired this year. We were attracted to the strong credit tenants that occupy both suites in the building. Jiffy Lube is backed by Shell Oil Company and Monro is a publicly traded company with a market capitalization of over $1.3 billion. The property also happens to be located in front of Wal-Mart and near a Chevron gas station outparcel that creates a lot of traffic for this property. Both tenants have occupied this location for over 10 years showing their commitment to this market. The car repair use is a strong tenant even during a pandemic or other market fluctuations. With this new acquisition, we now own and manage twelve properties in South Florida. Redfearn Capital has one other deal under contract that we expect to close in 2020 as we continue to pursue opportunistic acquisition opportunities in strong markets.”
About Redfearn Capital
Redfearn Capital is a private full-service real estate investment firm based in Delray Beach, Florida with over $270 million of assets under management and over 2.0 million square feet in three states with a focus on industrial, office, and medical office assets. The Company’s approach to
commercial real estate investing is branded by a significant emphasis on tenant relationships through a dedicated management team and experienced investment professionals. Redfearn Capital focuses on strategic real estate acquisitions with a strong and reliable tenant base in unique
locations in South Florida and Colorado. www.redfearncapital.com